">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 17, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

PEG Africa partners BIMA to reward loyal customers in Ghana with free medical insurance covers

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Business, Startups, Women
5 min read
0

PEG Africa, West Africa’s pay-as- you-go financing firm has partnered with BIMA, the global microinsurance and health pioneer, and Prudential Life to give free insurance cover as a reward to loyal customers and those that timely remit their loan repayment.

The two firms says they have already provided insurance cover to over 2000 families during pilot but they will now scale the program nationwide. The medical insurance cover underwritten by Prudential Life pays out for every night spent in hospital as a result of illness or injury. Prudential Life, has 1.268 trillion USD in assets under management and 49,000 employees.

“We are excited to be at the forefront of our industry, being the first player to provide these kinds of value -added services to rural consumers. BIMA has worked hard to design a product around the needs of our customers and the results from the pilot are very positive. With this cover, our customers have the security of knowing that unexpected healthcare costs won’t limit their ability to access life-changing solar power”,’ said Hugh Whalan, Chief Executive Officer of PEG Africa.

PEG provides financing for solar products to low -income households on a 12 month rent-to-own plan, and PEG’s typical customer lives in a rural area and earns $5-$10 per day, spending up to 30% of that income on poor quality fuels such as kerosene, candles and batteries. While these customers have little ability to purchase a solar home system for cash, the payment plan offered by PEG allows them to purchase it over time, building ownership in the asset over 12 months with daily payments of 50 cents.

READ  Carey Eaton to be Burried Friday | His Memorial Fund to Invest in Startups

One of the primary reasons that PEG’s customers cease repaying their solar loan on-time is a health emergency that requires hospitalization. Poor consumers often have little or no savings, and an unexpected emergency or health issue can mean they spend the following months living hand-to-mouth. Realising this challenge, PEG worked with BIMA to create a unique insurance product that is specifically tailored to the kinds of emergency situations faced by a poor rural household.

Russell Haresign, Ghana Country Manager at BIMA, commented, “The PEG hospitalization product means that a period of illness or injury won’t prevent a family from paying for the services it needs to succeed. We are very proud to work with PEG, creating an innovative solution that tackles a business challenge whilst creating real value for consumers”.

 

Related posts

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0
Readers 2,918

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: BusinessenergyGhanaInsuranceSolarSTARTUPstartups
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Entrepreneurship

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021
0
Startups

Nigeria’s TeamApt pivots to serve consumers, eyes expansion into West & North Africa

January 14, 2021
0
Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
work from home kenya
Startups

OZÉ Raises $700k To Digitize African MSMEs & Offer Them Affordable Capital

January 14, 2021
0
Startups

France’s OTT platform Molotov expands into 7 African countries

January 14, 2021
0
Startups

Gro Intelligence Raises $85 Million in Series B Funding

January 13, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
alternative energy building clouds energy
Startups

West Africa’s Daystar Power raises $38 million to accelerate its regional expansion

January 13, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

A salesman checks a customer's iPhone at a mobile phone store in New Delhi, India, July 27, 2016. REUTERS/Adnan Abidi

How To Measure How Much You Walk On Your iPhone

January 17, 2021

How To Scan and Sign Documents Directly From Your iPhone

January 17, 2021

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: